Totals
- Total revenue
- $2,803,285
- Total expenses
- $2,739,656
- Contributions and grants received
- $1,669,512
- Grants paid
- $757,270
- Program service revenue
- $1,129,120
- Investment income
- $4,653
- Other revenue
- $0
- Total assets, end of year
- $1,919,051
- Total liabilities, end of year
- $1,647,351
- Net assets or fund balances, end of year
- $271,700
- Program services expenses (Part IX)
- $2,271,295
- Management and general expenses
- $424,266
- Fundraising expenses
- $44,095
- Program service expenses (Part III)
- $2,271,295
Program services were 82.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$1,298,998
-
1f · All other contributions, gifts and grants
$370,514
-
2a · Program service revenue: Contract Income
total $846,669 · related or exempt $846,669
-
2b · Program service revenue: Program Fees
total $282,451 · related or exempt $282,451
-
3 · Investment income
total $4,653 · excluded $4,653
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $757,270 · program services $757,270
-
5 · Compensation of officers, directors and key employees
total $171,862 · program services $134,250 · management and general $34,451 · fundraising $3,161
-
7 · Other salaries and wages
total $973,665 · program services $760,579 · management and general $195,180 · fundraising $17,906
-
9 · Other employee benefits
total $270,236 · program services $211,095 · management and general $54,171 · fundraising $4,970
-
10 · Payroll taxes
total $78,289 · program services $61,155 · management and general $15,694 · fundraising $1,440
-
11g · Fees: other
total $193,845 · program services $149,992 · management and general $27,853 · fundraising $16,000
-
12 · Advertising and promotion
total $1,856 · program services $1,856
-
13 · Office expenses
total $12,836 · program services $6,722 · management and general $6,114
-
16 · Occupancy
total $31,566 · management and general $31,566
-
17 · Travel
total $49,014 · program services $42,461 · management and general $6,027 · fundraising $526
-
19 · Conferences, conventions and meetings
total $96,760 · program services $94,602 · management and general $2,066 · fundraising $92
-
22 · Depreciation, depletion and amortization
total $13,648 · management and general $13,648
-
23 · Insurance
total $9,993 · program services $3,700 · management and general $6,293
-
24a · Other expenses: Dues and subscriptions
total $17,630 · program services $15,980 · management and general $1,650
-
24b · Other expenses: Sponsorships
total $16,500 · program services $15,775 · management and general $725
-
24c · Other expenses: Telephone
total $11,872 · program services $3,560 · management and general $8,312
-
24d · Other expenses: Equipment rental and ma
total $10,331 · management and general $10,331
-
24e · All other expenses
total $22,483 · program services $12,298 · management and general $10,185
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $52,053 · end of year $10,270
-
2 · Savings and temporary cash investments
beginning of year $153,457 · end of year $1,542,487
-
4 · Accounts receivable
beginning of year $723,392 · end of year $286,315
-
9 · Prepaid expenses and deferred charges
beginning of year $9,983 · end of year $10,830
-
10a · Land, buildings and equipment: cost or other basis
$179,864
-
10b · Land, buildings and equipment: accumulated depreciation
$157,487
-
10c · Land, buildings and equipment, net
beginning of year $29,509 · end of year $22,377
-
15 · Other assets
beginning of year $2,405 · end of year $46,772
-
17 · Accounts payable and accrued expenses
beginning of year $133,256 · end of year $161,850
-
19 · Deferred revenue
beginning of year $629,472 · end of year $1,440,712
-
25 · Other liabilities
beginning of year $0 · end of year $44,789
-
27 · Net assets without donor restrictions
beginning of year $182,443 · end of year $121,518
-
28 · Net assets with donor restrictions
beginning of year $25,628 · end of year $150,182
Mission and programs · 2022
Mission
The mission of the Maine Development Foundation is to foster sustainable, long-term economic growth for Maine. Its programs stimulate new ideas, help develop Maine's leaders, and provide common ground for solving problems and advancing important issues.
Activities or mission (Part I)
To promote economic growth in the State of Maine.
-
Maine Downtown Center works to help downtowns with their revitalization efforts and fosters downtown development that is dynamic and community-based, and results in economic development, business growth, job creation, housing revitalization, historic preservation, and cultural enhancement.
Expenses $753,431 · Grants $460,869 · Revenue $249,465
-
Leadership Maine is a powerful, nine-month, outward journey that takes a leader beyond their day-to-day experience and expands their capacity to shape our state's future. The Leadership Maine curriculum is designed for leaders from all sectors. Each Leadership Maine class is given real-life challenges to address. Participants work in teams to address the assigned issue, connect with key stakeholders, organizations and groups, and develop a solution-oriented path with the goal of improving the economy.
Expenses $175,579 · Revenue $182,971
-
The Forest Economy Project was launched in summer 2016 to support industry, community, and research leaders to develop and implement recommendations to strengthen and diversify Maine's forest industry and rural economies, supported initially by a 3-year federal Economic Development Administration grant to assist with supporting, coordinating, and reporting on Maine's forest economy recovery and revitalization effort.
Expenses $693,357 · Grants $295,401 · Revenue $235,912
-
Expenses $648,928 · Grants $1,000 · Revenue $460,772
As filed on the 2022 return.
Listed in Part VII
-
Amy Landry
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Carlos Mello
Director
- Total calculated
- $0
- Hours/week
- 1
-
Catherine Wygant Fossett
Director
- Total calculated
- $0
- Hours/week
- 1
-
Deborah Johnson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Eric Soelberg
Director
- Total calculated
- $0
- Hours/week
- 1
-
Hannah Carter
Director
- Total calculated
- $0
- Hours/week
- 1
-
Joy Barresi Saucier
Chair
- Total calculated
- $0
- Hours/week
- 1.5
-
Linda Ball
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Sockabasin
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lori Dwyer
Director
- Total calculated
- $0
- Hours/week
- 1
-
Rick C Leonard
Director
- Total calculated
- $0
- Hours/week
- 1
-
Thomas Francoeur
Vice Chair
- Total calculated
- $0
- Hours/week
- 1.5
-
Theresa Cody
Director
- Total calculated
- $0
- Hours/week
- 1
-
Michael McKernan
Director
- Total calculated
- $0
- Hours/week
- 1
-
Adam Shub
Director
- Total calculated
- $0
- Hours/week
- 1
-
Yellow Light Breen
President & CEO
- Total calculated
- $202,712
- From this org
- $171,862
- From related orgs
- $0
- Other
- $30,850
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $171,862
- Bonus
- $0
- Other
- $0
- Deferred
- $8,807
- Nontaxable benefits
- $22,043
- Filer's total
- $202,712
-
Jan A Kearce
Sr Team Leader
- Total calculated
- $116,608
- From this org
- $101,133
- From related orgs
- $0
- Other
- $15,475
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
60 Lowell Street LLC
$200,000
Economic Development
-
Town of Lincoln Maine
$114,523
Economic Development
-
Peavey Memorial Library
-
Town of East Millinocket Maine
$61,032
Economic Development
-
Norway Opera House Corporation
$49,620
Economic Development
-
Town of Ashland Maine
$43,887
Economic Development
-
The Chocolate Church Arts Center
$42,038
Economic Development
-
Town of Madison Maine
$30,000
Economic Development
-
$14,510
Economic Development
-
Johnson Hall Inc
$12,550
Redevelopment of Johnson Hall
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 18 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202302619349300210
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.